Chap 01 10e - Pride
Indicate whether the statement is true or false.
1. For an exchange to occur, each party involved has something of value that the other party finds desirable.
a. True
b. False
ANSWER: True
2. The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business
organization.
a. True
b. False
ANSWER: False
3. Basic and extended warranties can reduce risk, a major customer cost.
a. True
b. False
ANSWER: True
4. Relationship marketing focuses on satisfying customers to generate the most profit.
a. True
b. False
ANSWER: False
5. Marketing costs consume about one-quarter of a buyer's dollar.
a. True
b. False
ANSWER: False
6. Changes in the marketing environment always hurt marketing efforts.
a. True
b. False
ANSWER: False
7. At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the
profitability of existing customers, and extending the duration of customer relationships.
a. True
b. False
ANSWER: True
Page 1
,Name: Class: Date:
Chap 01 10e - Pride
8. The marketing concept stresses that a business organization can best achieve its goals by providing customer
satisfaction through coordinated activities.
a. True
b. False
ANSWER: True
9. Services are provided by applying human and mechanical efforts to people or objects to provide intangible
benefits to customers.
a. True
b. False
ANSWER: True
10. Marketing consists primarily of selling and advertising.
a. True
b. False
ANSWER: False
11. It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that
stay colder longer.
a. True
b. False
ANSWER: True
12. In marketing, a product can be a good or a service but not an idea.
a. True
b. False
ANSWER: False
13. Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable
marketing practices.
a. True
b. False
ANSWER: True
14. The impact of environmental forces on value can be extensive as market changes can easily influence how
stakeholders perceive certain products.
a. True
b. False
ANSWER: True
Page 2
,Name: Class: Date:
Chap 01 10e - Pride
Indicate the answer choice that best completes the statement or answers the question.
15. Which of the following companies is the best example of a service marketer?
a. American Airlines
b. Samsung
c. J. Crew
d. The Humane Society
ANSWER: a
16. Which of the following represents a way in which the marketing environment improves the exchange
relationship between buyer and seller?
a. The seller has no products that the buyer is interested in.
b. The seller has no need for the products the buyer is offering.
c. The buyer wishes to purchase environmentally friendly products offered by the seller.
d. Rising interest rates limit the number of buyers of luxury vehicles.
ANSWER: c
17. Which of the following statements about the marketing that nonprofit organizations do is most accurate?
a. Unlike the private sector, nonprofit organizations do not employ marketing activities to create, price,
distribute, and promote their programs.
b. Because nonprofits do not need to create revenue to meet their needs, marketing efforts less important
than in the private sector.
c. Nonprofit organizations need to understand marketing and use its tools to survive and provide services to
their target market.
d. Because for-profit companies support social causes through their donations and promotional activities,
nonprofits can rely on their donors for marketing efforts.
ANSWER: c
18. Your professor asks you for a one-sentence description of the marketing concept. Which of the following would
you choose?
a. It is a definition of marketing to attract customers.
b. It focuses on selling and advertising to achieve organizational goals.
c. It focuses on production and selling to achieve organizational goals.
d. It is a management philosophy that affects all organizational activities.
ANSWER: d
Page 3
, Name: Class: Date:
Chap 01 10e - Pride
19. Which of the following does not help explain why a knowledge of marketing is beneficial to students?
a. Knowledge of marketing contributes to the understanding of the importance of marketing to customers,
organizations, and the economy.
b. Knowledge of marketing facilitates the ability to analyze marketing efforts that need improvement and
how to attain that goal.
c. Knowledge of marketing makes improved purchasing decisions more likely.
d. Knowledge of marketing makes corrective measures (such as laws, regulations, and industry guidelines)
unnecessary.
ANSWER: d
20. Malcolm, a buyer for a medium-sized company, is assessing the value of competing software products for use in
his firm. Which of the following would not be a customer benefit considered in his determination of this
product’s value?
a. Speed of delivery
b. Ease of installation
c. Availability of technical support
d. Monetary price
ANSWER: d
21. Your competition is beating you on price in your most important product market. In response, you decided to
launch a new ad campaign focusing your customers on the price attribute of your marketing mix. You need a
catchy slogan that conveys the attractiveness of your product’s pricing.
Which of the following slogans should you use to convey this message most effectively?
a. “Travel Better Together”
b. “Move The Way You Want”
c. “Save Money. Live Better”
d. “There Is No Substitute”
ANSWER: c
Page 4
Indicate whether the statement is true or false.
1. For an exchange to occur, each party involved has something of value that the other party finds desirable.
a. True
b. False
ANSWER: True
2. The marketing concept is a philanthropic philosophy aimed at helping customers at the expense of the business
organization.
a. True
b. False
ANSWER: False
3. Basic and extended warranties can reduce risk, a major customer cost.
a. True
b. False
ANSWER: True
4. Relationship marketing focuses on satisfying customers to generate the most profit.
a. True
b. False
ANSWER: False
5. Marketing costs consume about one-quarter of a buyer's dollar.
a. True
b. False
ANSWER: False
6. Changes in the marketing environment always hurt marketing efforts.
a. True
b. False
ANSWER: False
7. At the most basic level, profits can be obtained through relationships by acquiring new customers, enhancing the
profitability of existing customers, and extending the duration of customer relationships.
a. True
b. False
ANSWER: True
Page 1
,Name: Class: Date:
Chap 01 10e - Pride
8. The marketing concept stresses that a business organization can best achieve its goals by providing customer
satisfaction through coordinated activities.
a. True
b. False
ANSWER: True
9. Services are provided by applying human and mechanical efforts to people or objects to provide intangible
benefits to customers.
a. True
b. False
ANSWER: True
10. Marketing consists primarily of selling and advertising.
a. True
b. False
ANSWER: False
11. It is a good idea to consider parents as part of the target market when marketing new children's lunchboxes that
stay colder longer.
a. True
b. False
ANSWER: True
12. In marketing, a product can be a good or a service but not an idea.
a. True
b. False
ANSWER: False
13. Knowing about marketing can help you evaluate the types of corrective measures needed to stop questionable
marketing practices.
a. True
b. False
ANSWER: True
14. The impact of environmental forces on value can be extensive as market changes can easily influence how
stakeholders perceive certain products.
a. True
b. False
ANSWER: True
Page 2
,Name: Class: Date:
Chap 01 10e - Pride
Indicate the answer choice that best completes the statement or answers the question.
15. Which of the following companies is the best example of a service marketer?
a. American Airlines
b. Samsung
c. J. Crew
d. The Humane Society
ANSWER: a
16. Which of the following represents a way in which the marketing environment improves the exchange
relationship between buyer and seller?
a. The seller has no products that the buyer is interested in.
b. The seller has no need for the products the buyer is offering.
c. The buyer wishes to purchase environmentally friendly products offered by the seller.
d. Rising interest rates limit the number of buyers of luxury vehicles.
ANSWER: c
17. Which of the following statements about the marketing that nonprofit organizations do is most accurate?
a. Unlike the private sector, nonprofit organizations do not employ marketing activities to create, price,
distribute, and promote their programs.
b. Because nonprofits do not need to create revenue to meet their needs, marketing efforts less important
than in the private sector.
c. Nonprofit organizations need to understand marketing and use its tools to survive and provide services to
their target market.
d. Because for-profit companies support social causes through their donations and promotional activities,
nonprofits can rely on their donors for marketing efforts.
ANSWER: c
18. Your professor asks you for a one-sentence description of the marketing concept. Which of the following would
you choose?
a. It is a definition of marketing to attract customers.
b. It focuses on selling and advertising to achieve organizational goals.
c. It focuses on production and selling to achieve organizational goals.
d. It is a management philosophy that affects all organizational activities.
ANSWER: d
Page 3
, Name: Class: Date:
Chap 01 10e - Pride
19. Which of the following does not help explain why a knowledge of marketing is beneficial to students?
a. Knowledge of marketing contributes to the understanding of the importance of marketing to customers,
organizations, and the economy.
b. Knowledge of marketing facilitates the ability to analyze marketing efforts that need improvement and
how to attain that goal.
c. Knowledge of marketing makes improved purchasing decisions more likely.
d. Knowledge of marketing makes corrective measures (such as laws, regulations, and industry guidelines)
unnecessary.
ANSWER: d
20. Malcolm, a buyer for a medium-sized company, is assessing the value of competing software products for use in
his firm. Which of the following would not be a customer benefit considered in his determination of this
product’s value?
a. Speed of delivery
b. Ease of installation
c. Availability of technical support
d. Monetary price
ANSWER: d
21. Your competition is beating you on price in your most important product market. In response, you decided to
launch a new ad campaign focusing your customers on the price attribute of your marketing mix. You need a
catchy slogan that conveys the attractiveness of your product’s pricing.
Which of the following slogans should you use to convey this message most effectively?
a. “Travel Better Together”
b. “Move The Way You Want”
c. “Save Money. Live Better”
d. “There Is No Substitute”
ANSWER: c
Page 4
